Elon Musk, the CEO of Tesla and new owner of Twitter, has put to rest any speculation about the possible launch of a Twitter/X Token. The tech billionaire was quite unequivocal in his response to a Twitter user’s query, stating categorically, “And we never will.”
Musk Quashes Rumours of Twitter/X Token
In the midst of ongoing chatter about a potential crypto token linked to Twitter or “X”, Elon Musk has made his stance clear. A Twitter user had posted a cautionary message on the platform, alerting others to be wary of reports claiming that Elon Musk and “X” had launched a crypto token. Musk responded to this post with a simple, “And we never will.” This statement was a clear rebuttal of the circulating rumours.
Articles alleging the existence of a so-called “$X” or “Twitter token” had been making the rounds, promising remarkable 24-hour gains. These rumours have been rife, particularly in the wake of Twitter’s major rebranding initiative led by Musk, aimed at transforming X into a new “everything app.”
Musk’s Affinity for Crypto, Yet No Twitter/X Token
Given Musk’s known fondness for the popular memecoin Dogecoin (DOGE), it is understandable that users might anticipate a Twitter or X-associated cryptocurrency. Musk, who is often referred to as the “Dogefather”, purchased Twitter for a whopping $44 billion and temporarily replaced Twitter’s iconic blue bird logo with the Shiba Inu, the emblem of DOGE. This move resulted in a lawsuit against Musk for racketeering and insider trading worth $258 billion, and also led to a 20% surge in DOGE’s value.
Unrelated X-Token Soars After Twitter Rebrand
Despite having no connection to Twitter, X, or Elon Musk, an altcoin named the X token experienced an impressive 1000% surge following Musk’s announcement of Twitter’s rebranding to X.com. The X token is not linked to X.com and is part of a project initiated by X, a decentralized NFT marketplace operating on multiple chains.
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Note: This article is intended for informational purposes only and should not be considered as financial or investment advice.
